CoreWeave (NASDAQ:CRWV) Trading 1.1% Higher - What's Next?

CoreWeave Inc. (NASDAQ:CRWV - Get Free Report)'s stock price was up 1.1% on Wednesday . The stock traded as high as $175.50 and last traded at $173.75. Approximately 9,840,675 shares changed hands during trading, a decline of 54% from the average daily volume of 21,590,186 shares. The stock had previously closed at $171.93.

Analysts Set New Price Targets

CRWV has been the topic of a number of research analyst reports. Needham & Company LLC reissued a "buy" rating and set a $55.00 price objective on shares of CoreWeave in a report on Thursday, May 15th. The Goldman Sachs Group raised their price objective on CoreWeave from $54.00 to $61.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Wells Fargo & Company upped their target price on CoreWeave from $50.00 to $60.00 and gave the company an "equal weight" rating in a research report on Thursday, May 15th. Citizens Jmp raised shares of CoreWeave to a "hold" rating in a research report on Thursday, May 22nd. Finally, Arete initiated coverage on shares of CoreWeave in a research note on Thursday, June 5th. They set a "neutral" rating and a $130.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, CoreWeave currently has an average rating of "Hold" and an average price target of $65.00.

CoreWeave Stock Performance

The business's 50-day simple moving average is $89.11.

CoreWeave (NASDAQ:CRWV - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.67).

Insider Activity

In related news, insider Kristen J. Mcveety sold 69,460 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $40.00, for a total transaction of $2,778,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Nitin Agrawal sold 12,720 shares of the firm's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $40.00, for a total value of $508,800.00. Following the completion of the transaction, the chief financial officer now owns 231,811 shares in the company, valued at $9,272,440. The trade was a 5.20% decrease in their position. The disclosure for this sale can be found here.

Institutional Investors Weigh In On CoreWeave

An institutional investor recently bought a new position in CoreWeave stock. Gamco Investors INC. ET AL bought a new position in shares of CoreWeave Inc. (NASDAQ:CRWV - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,575 shares of the company's stock, valued at approximately $318,000.

About CoreWeave

CoreWeave, Inc engages in the powers of the creation and delivery of the intelligence that drives innovation. It offers a solution used by organizations of all sizes that require sophisticated AI computing, from the largest of enterprises to small, well-funded start-ups. The company was founded by Michael Intrator, Brian Venturo, and Brannin McBee on September 21, 2017 and is headquartered in Livingston, NJ.